The company behind Radio Nova, Classic Hits Radio and Sunshine 106.8 is planning to buy Galway Bay FM.
The Competition Consumer and Protection Commission said it had been notified of a proposed takeover by Bay Broadcasting, the owner of the three music stations, of Western Community Broadcasting Holdings which runs Galway Bay FM.
The CCPC reviews mergers and acquisitions.
It has the power to block takeovers or mergers if it decides they undermine consumers' interests.
The CCPC said that it had opened a preliminary investigation into the proposed takeover.
